USDA home loans: USDA loan requirements & rates for 2020
The Mortgage Report
NOVEMBER 5, 2020
USDA loans allow zero down payment and have lenient requirements. Plus, USDA loan rates are below average. See if you qualify for a USDA mortgage.
usda-loans 
USDA construction loans: Buy land and build a home with a USDA loan
The Mortgage Report
MARCH 2, 2021
USDA construction loans can be an affordable way to buy land and build a home. But these loans are hard to find. Learn about the pros and cons here.
Loans 
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USDA loan requirements: Guide for first-time home buyers
The Mortgage Report
DECEMBER 20, 2022
USDA loans have some special requirements for home buyers. Learn about income limits, eligible locations, and other USDA loan requirements.
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USDA loan approval process: 2022 Guide
The Mortgage Report
JANUARY 5, 2022
The USDA loan approval process is not much different than other loan types. Learn about the typical process and timeline when getting a USDA loan.
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How to refinance your USDA home loan
The Mortgage Report
DECEMBER 21, 2020
Learn how to refinance your USDA loan into a lower rate and payment. Or refinance a USDA loan to cash-out equity or remove mortgage insurance.
Loans 101
101 
USDA vs. FHA: Which loan is better for first-time home buyers?
The Mortgage Report
MARCH 18, 2021
USDA vs FHA for first-time buyers: Should you use a zero-down USDA loan or 3.5%-down down FHA loan? Compare pros and cons here.
Loans 111
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Mortgage demand picks up again: MBA
Housing Wire
JANUARY 10, 2024
The increase in purchase and refinance applications for both conventional and government loans is promising to start the year but was likely due to some catch-up in activity after the holiday season and year-end rate declines,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. from 14.5% the week prior.
Mortgages 485
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New USDA loan limits for 2021: How much can you borrow?
The Mortgage Report
APRIL 7, 2021
USDA loan limits have changed. New USDA loan limits range from $285K to $657K depending on your area. Find out how much house you can afford.
Loans 92
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Mortgage demand rises for a second straight week
Housing Wire
MARCH 13, 2024
“Mortgage rates dropped below 7% last week for most loan types because of incoming economic data showing a weaker service sector and a less robust job market, with an increase in the unemployment rate and downward revisions to job growth in prior months,” Mike Fratantoni, MBA’s senior vice president and chief economist, said in a statement.
Mortgages 441
441 
Evergreen Home Loans expands into Montana
Housing Wire
JANUARY 31, 2024
Mortgage company Evergreen Home Loans is continuing its expansion across the country with the opening of new branches in Montana, the company announced on Wednesday. “We Department of Agriculture (USDA). We’re excited to bring our personalized approach to mortgage solutions to the residents of Montana.”
Loans 372
372 
Demand for mortgages picks up: MBA
Housing Wire
JANUARY 24, 2024
The MBA survey shows the average mortgage rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.78% last week, up from 6.75% the prior week. Rates on jumbo loans (greater than $766,550) rose to 6.94% up from 6.86%. Department of Agriculture (USDA) share decreased to 0.4%
Mortgages 478
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Mortgage demand ticks up ahead of the spring buying season
Housing Wire
MARCH 6, 2024
Of note, purchase volume — particularly for FHA loans — was up strongly, again showing how sensitive the first-time homebuyer segment is to relatively small changes in the direction of rates. Meanwhile, rates on jumbo loans (balances greater than $766,550) increased to 7.21%, up from 7.20%. last week, down from 13% the week prior.
Mortgages 431
431 
The mortgage market just had its strongest week in months
Housing Wire
DECEMBER 6, 2023
Total home loan applications increased 2.8% The share of Federal Housing Administration (FHA) loan activity increased to 15%, down from 13.5% The share of Department of Veterans Affairs (VA) loan activity was 12.8%, up from 12.6% Department of Agriculture (USDA) loan activity remained unchanged at 0.5%.
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Mortgage applications surge to highest level in six weeks: MBA
Housing Wire
NOVEMBER 22, 2023
Total home loan applications increased 3% for the week ending Nov. Mortgage rates for the 30-year fixed loan averaged 7.44%, falling 6 basis points in one week, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average loan size on a purchase application was $403,600, the lowest since January 2023. the week prior.
VA loan 465
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Mortgage applications fall despite declining mortgage rates
Housing Wire
DECEMBER 20, 2023
Total home loan applications decreased by 1.5% The share of Federal Housing Administration (FHA) loan activity decreased to 15.5%, down from 16.1% The share of Department of Veterans Affairs (VA) loan activity was 15.6%, up from 14.2% Department of Agriculture (USDA) loan activity remained unchanged at 0.4%.
Mortgages 380
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Mortgage applications decline ahead of Fed meeting
Housing Wire
JANUARY 31, 2024
The average loan size for purchase applications has risen in recent weeks to $444,100, the largest average loan size since May 2022, Kan added. The MBA survey shows the average mortgage rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) remained unchanged at 6.78% last week. the previous week.
Mortgages 403
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Mortgage applications tick down amid elevated mortgage rates: MBA
Housing Wire
NOVEMBER 1, 2023
27, total home loan applications fell 2.1% Purchase applications for government-backed loans declined significantly more than conventional loans. Purchase applications for government loans fell by 3% and refi applications for those loans fell by 9% week over week. For the week ending Oct. of all applications.”
Mortgages 406
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Senators introduce bill to address affordable rural housing shortage
Housing Wire
MAY 5, 2023
Department of Agriculture (USDA) rural housing programs,” according to a press release from Sen. ” The bill would make it easier for non-profits to acquire properties with Section 515 loans. .” ” The bill would make it easier for non-profits to acquire properties with Section 515 loans.
Loans 351
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Mortgage applications ticked up after weeks of decline: MBA
Housing Wire
NOVEMBER 8, 2023
3, total home loan applications increased 2.5% Applications for both purchase and refinance loans were up over the week but remained at low levels,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “”The The share of Federal Housing Administration (FHA) loan activity remained unchanged at 14.7%.
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Weekly mortgage applications pick up but remain subdued: MBA
Housing Wire
NOVEMBER 15, 2023
Total home loan applications increased 2.8% The share of Federal Housing Administration (FHA) loan activity decreased to 14.4% The share of Department of Veterans Affairs (VA) loan activity was 11.2%, up from 10.5% Department of Agriculture (USDA) loan activity held at 0.5% for the week ending Nov. the week prior.
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Mortgage demand ticks up on the strength of purchase applications
Housing Wire
FEBRUARY 7, 2024
The MBA survey shows the average mortgage rate for 30-year fixed-rate loans with conforming balances ($766,550 or less) increased to 6.80%, up from 6.78% the week before. Meanwhile, rates on jumbo loans (greater than $766,550) decreased to 6.88%, down from 6.94%. Department of Agriculture (USDA) share remained unchanged at 0.4%.
Mortgages 442
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VA should expedite regulatory changes for agent commissions: CHLA
Housing Wire
MARCH 25, 2024
In a letter submitted Monday to John Bell, executive director of VA’s Loan Guaranty Service, the CHLA took issue with how the existing regulatory requirements regarding VA mortgages could put veterans and active-duty personnel at an “unfair disadvantage” when buying a home. as proper local variances, under current VA regulations.“ “We
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Mortgage applications slump after rates surge to 23-year high
Housing Wire
OCTOBER 4, 2023
Bucking the downward trend, the share of adjustable-rate mortgage (ARM) applications rose to 8% of all loan applications, the MBA found. Still, mortgage rates for home loan products across the board, including ARMs, pushed higher for the week ending Sept. The share of Federal Housing Administration (FHA) loan activity inched up to 14.5%
Mortgages 481
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Application activity recedes as mortgage rates inch up
Housing Wire
FEBRUARY 14, 2024
The MBA survey shows that the average mortgage rate for 30-year fixed loans with conforming balances ($766,550 or less) increased to 6.87%, up from 6.80% the week before. Meanwhile, rates on jumbo loans (greater than $766,550) increased to 7%, up from 6.88%. Department of Agriculture (USDA) share remained unchanged at 0.4%.
Mortgages 384
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Mortgage applications slump as rates return above 7%
Housing Wire
FEBRUARY 21, 2024
The MBA survey shows that the average mortgage rate for 30-year fixed loans with conforming balances ($766,550 or less) increased to 7.06%, up from 6.87% the week before. Meanwhile, rates on jumbo loans (greater than $766,550) increased to 7.16%, up from 7%. Department of Agriculture (USDA) share increased to 0.5%, up from 0.4%.
Mortgages 426
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Here’s how a mortgage coaching platform wants to carve out a niche in a competitive market
Housing Wire
FEBRUARY 16, 2024
To take advantage of the shifting market, two key areas that loan originators should be focusing on are “nurturing and cementing relationships with preapproved borrowers,” said Tim Braheem, founder and chief content creator of The Loan Atlas. So, kind of like a turnkey kit to get in front of a one-to-many type situation.”
Mortgages 391
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CFPB takes a closer look at consumer mortgage complaints
Housing Wire
MARCH 29, 2024
The majority of consumer complaints in the mortgage arena (13,100, or 58%) were focused on conventional home loans, followed by Federal Housing Administration (FHA) loans (19%), U.S. Department of Veterans Affairs (VA) loans (9%) and home equity lines of credit, or HELOCs (6%).
Mortgages 351
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Mortgage demand slumps over the holidays
Housing Wire
JANUARY 3, 2024
The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% The share of Department of Veterans Affairs (VA) loan activity was 14.6%, down from 17.3% Department of Agriculture (USDA) loan activity increased to 0.5% from 15% the week prior. over the previous week, while the share of U.S.
Mortgages 366
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The differences between FHA, VA, and USDA mortgages
Housing Wire
NOVEMBER 16, 2020
When you get a mortgage, there are several options you can choose from, including FHA, VA, USDA, and conventional mortgages. They allow for lower credit scores than most other loans. The one caveat with FHA loans is that they require a Mortgage Insurance Premium both at closing and as part of your monthly payment. USDA loans.
VA loan 485
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Housing authorities and lenders added 54 homebuyer assistance programs in Q3: report
Housing Wire
NOVEMBER 9, 2023
A total of 224 programs will fund certain upfront loan fees including the upfront mortgage insurance premium on FHA loans , the funding fee on VA loans and the guarantee fees on USDA loans.
FHA loan 453
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Mortgage applications sink to 1995 levels as rates soar
Housing Wire
OCTOBER 18, 2023
The share of Federal Housing Administration (FHA) loan activity inched up to 14.8% The share of Department of Veterans Affairs (VA) loan activity was 10.7%, up from 10.2% the week prior while the share of Department of Agriculture (USDA) loan activity held steady at 0.5%. from 14.4% for the week ending Oct.
Mortgages 445
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Mortgage apps uptick spreads optimism on a refi recovery
Housing Wire
JANUARY 17, 2024
Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. Rates on jumbo loans (greater than $766,550) fell to 6.86% from 6.98% on a weekly basis. Overall, mortgage applications rose by 10.4%
Mortgages 439
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Mortgage applications rise timidly during Thanksgiving week
Housing Wire
NOVEMBER 29, 2023
Total home loan applications increased 0.3% Mortgage rates for the 30-year fixed loan averaged 7.29% as of Nov. The share of Federal Housing Administration (FHA) loan activity decreased to 13.5%, down from 14.8% The share of Department of Veterans Affairs (VA) loan activity was 12.6%, down from 11.3% the week prior.
Mortgages 388
388 
Government mortgage loan demand drops as affordability issues loom
Housing Wire
APRIL 5, 2023
Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. But the decline in demand for mortgage loans was more evident in the government market, which consists of Federal Housing Administration (FHA), U.S. and USDA loan applications decreased to 23.6%
Loans 400
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Mortgage demand falls despite a decline in rates
Housing Wire
MAY 3, 2023
Department of Agriculture (USDA) share also climbed marginally to 0.5%, up from 0.4% The MBA survey shows the average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.50% last week from 6.55% the prior week. the previous week.
Mortgages 386
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The VA’s little-known program for Native American veterans
Housing Wire
APRIL 20, 2022
According to a report the Government Accountability Office published this week, the VA’s Native American Direct Loan program only resulted in 89 loans originated in the continental U.S. The GAO’s report said that from 2012 to 2021, 91 loans were originated in Hawaii using the program. from 2012 to 2021.
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Higher interest rates dampen mortgage demand: MBA
Housing Wire
FEBRUARY 28, 2024
The MBA survey shows that the average mortgage rate for 30-year fixed loans with conforming balances ($766,550 or less) decreased to 7.04%, down from 7.06%% the week before. Meanwhile, rates on jumbo loans (greater than $766,550) increased to 7.20%, up from 7.16%. Department of Agriculture (USDA) share remained unchanged at 0.5%.
Mortgages 366
366 
Mortgage applications stall with 8% rates
Housing Wire
OCTOBER 25, 2023
The share of Federal Housing Administration (FHA) loan activity inched up to 15.2% The share of Department of Veterans Affairs (VA) loan activity was 10.5%, down from 10.7% the week prior while the share of Department of Agriculture (USDA) loan activity decreased to 0.4% from 14.8% for the week ending Oct.
Mortgages 422
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After hitting a 10-year low, mortgage credit availability improves slightly in August
Housing Wire
SEPTEMBER 12, 2023
Overall, an increase in the number of loan programs offering cash-out refinances and mid-range credit scores drove the uptick, said Joel Kan, MBA’s vice president and deputy chief economist. Meanwhile, the Conventional MCAI, which does not include loans backed by the government, increased 0.6%
Mortgages 375
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Mortgage apps decline as first-time buyers pull back from the market
Housing Wire
APRIL 19, 2023
As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. This was a reversal of the previous week’s trend, when homebuyers’ loan demand increased by 5.3%. Rates on jumbo loans (greater than $726,200) rose to 6.28% from 6.26% on a weekly basis. in the same period.
Mortgages 368
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3 underrated mortgage products to consider
Housing Wire
MARCH 1, 2021
After all, in January 2021, 30-year loans accounted for a whopping three-quarters of all mortgage originations in the country. USDA loans. Though USDA loans are technically reserved for homes in “rural” areas, you’d be surprised at how much of America actually qualifies for these mortgages. landmass!).
Mortgages 432
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Assumable mortgages grow in popularity, but hurdles remain
Housing Wire
FEBRUARY 6, 2024
The fees are typically lower than those of new loans and no appraisal is needed. Hampered by numerous hurdles To begin with, assumptions are limited to FHA and VA loans, with rare allowances for U.S. Department of Agriculture (USDA) and conventional adjustable-rate mortgages (ARMs) under specific conditions.
Mortgages 397
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Could the assumable mortgage level the playing field?
Housing Wire
FEBRUARY 7, 2023
It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed. In fact, it was fairly common a few decades ago.
FHA loan 378
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Mortgage credit availability hits a 10-year low
Housing Wire
AUGUST 8, 2023
As a result, many companies tried to reduce their operational costs by narrowing their loan product offerings, according to Joel Kan, Mortgage Bankers Association ’s vice president and deputy chief economist. One key driver of this month’s decline was a drop in cash-out refinance loan programs,” said Kan. last month. “One
Mortgages 313
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